MRKT341: Practice ?’s – Flashcards
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_________ marketing is defined as meeting the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs
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Sustainable
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The ________ concept specifically focuses on future company needs, but not on future customer needs
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Strategic Planning
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the ________ concept specifically focuses on future customer needs, but not on future business needs
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Societal Marketing
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The ________ concept recognizes that organizations thrive from day to day by determining the current needs and wants of target group customers and fulfilling those needs and wants more effectively and efficiently than the competition
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Marketing
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The ________ concept focuses on meeting a company's short term sales, growth, and profit needs by giving customers what they want now
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Marketing
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A common criticism of the marketing system is that intermediaries
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are inefficient
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Critics charge that high advertising and promotion costs unnecessarily increase retail prices. Marketers most likely respond to this criticism by arguing that advertising ________.
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adds value by giving consumers product information
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A pen that costs five cents to make may cost $2 to buy, this is an example of
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excessive markup
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Deceptive promotion overstates a product's features or ________
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Performance
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Which of the following statements is true of salespeople?
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The represent a company to its customers by communicating and selling
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A company that sells only one product line to one industry with customers in many locations would typically use a
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territorial sales force structure
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What is an advantage of a territorial sales force structure?
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Travel expenses are small.
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Which of the following is true of a territorial sales-force structure
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It clearly defines each salesperson's job and establishes accountability
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Which of the following examples represents a territorial sales-force structure
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Oriental Meals' producers of precooked Chinese meals, markets its products throughout the country using a network of regional sales offices.
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Which of the following statements is true of a product sales-force structure
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Characterized by specialization along product lines
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Loretta Inc., a US based watch manufacturer, sells its products in France, China, Russia, and India. To manage sales, Loretta appoints a number of sales representatives to each location. Sale srepresentatives report to area managers, and area managers coordinate sales in their respective areas before reporting to regional managers. Loretta has most likely adopted a _________ sales-force structure
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Territorial
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Simpson Ltd., located in San Diego, provides a range of household and healthcare goods to consumers within the region. The firm also runs a number of local hotels and resorts under its brand name. Simpson employs different sales forces for each major division, so there are sales teams for household goods, healthcare goods, hotel management, and resort management. Simpson has most likely adopted a ________ sales-force structure
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product
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________ consists of connecting directly with carefully targeted consumers, often on a one-to-one, interactive basis
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Direct Marketing
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Which of the following statements is most likely true about direct marketing
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Direct marketing provides opportunities for building customer engagement
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Which of the following is the fastest-growing form of marketing
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Direct Marketing
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How has the Internet most likely affected direct marketing
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The expenditures of marketers on direct marketing have increased
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Which of the following is most likely true about direct and digital marketing
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The provide buyers with anytime, anywhere access to products
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Which is a traditional direct marketing tool?
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Catalog
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What is a digital direct marketing tool?
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Blog
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What is the fastest form of direct marketing
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Digital Marketing
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In which of the following cases is a firm employing multichannel marketing
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Wingate Retail sells its products through e-tailers and hundreds of physical superstores
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Which of the following is most likely true about the digital age with regards to marketing
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Digital networks allow marketers many ways to build customer relationships
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What is most likely true of a global firm?
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A global firm manufactures and markets goods wherever it can do the best job
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A tax on an imported product designed to raise revenue or protect domestic firms is referred to as a(n) ______
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Tariff
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The purpose of a quota is to _________
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protect local employment
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What is an example of a nontariff trade barrier
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A host country regulation
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Restrictive product standards are
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Nontariff trade barriers
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Which of the following is true of the World Trade Organization?
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It mediates global trade disputes
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Which of the following is true of the Uruguay Round of the WTO?
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Toughened the international protection of intellectual property
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What is true of free trade zones
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They are groups of nations organized to work toward common goals
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Which of the following establed a free trade zone between US, Mexico, Canada?
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NAFTA
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A subsistence economy is one in which________
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a vast majority of people engage in simple agriculture
